Terms of Service · KoboPay

1. Introduction

These Terms of Service (“Terms”) govern your access to and use of the websites, mobile applications, dashboards, APIs, accounts, payment services, wallet services, remittance-related services, FX services, invoicing tools, virtual card-related services, credit-building services, rent-reporting services, business account services, merchant tools, and other products and services provided by Kobopay Inc. (“Kobopay,” “we,” “us,” or “our”) collectively referred to as the “Services.”

By accessing or using the Services, creating an account, submitting an application, clicking “I agree,” or otherwise indicating acceptance, you agree to these Terms. If you are using the Services on behalf of a business, organization, or other legal entity, you represent and warrant that you have authority to bind that entity to these Terms. In that case, “you” and “your” refer to both you and that entity.

If you do not agree to these Terms, you must not access or use the Services.

2. Important disclosures

Kobopay is a financial technology company. Kobopay is not a bank unless expressly stated otherwise. Banking, safeguarding, card, payment, custody, credit reporting, virtual asset, and other regulated financial services may be provided by third-party regulated partners. Your use of certain Services may be subject to additional terms, disclosures, consents, fee schedules, partner agreements, account agreements, cardholder agreements, credit reporting consents, privacy notices, and compliance requirements.

Kobopay may use stablecoins, blockchain infrastructure, payment partners, liquidity providers, or digital asset infrastructure behind the scenes to support money movement, settlement, or treasury operations. Unless expressly stated in your product terms, Kobopay does not provide you with investment advice, digital asset trading services, securities services, or a speculative crypto investment product. You should not use Kobopay to speculate on crypto assets.

The availability of Services depends on your jurisdiction, eligibility, account type, verification status, transaction risk, regulatory requirements, partner availability, and our internal policies.

3. Eligibility

To use a personal account, you must:

Be at least the age of majority in your jurisdiction.
Have legal capacity to enter into these Terms.
Provide accurate, complete, and current information.
Pass identity verification, sanctions screening, and other checks required by Kobopay or its partners.
Use the Services only for lawful purposes.
Not be located in, resident in, organized in, or acting on behalf of a restricted jurisdiction or prohibited person.

To use a business account, the business must:

Be validly formed and in good standing, where applicable.
Operate a lawful business.
Provide required KYB, beneficial ownership, director, officer, representative, and control person information.
Authorize individuals who act on behalf of the business.
Pass business verification, sanctions screening, risk review, and other compliance checks.
Use the Services only for approved business purposes.

We may accept, reject, suspend, restrict, or terminate any application or account at our discretion, subject to applicable law.

4. Account registration and verification

You must provide accurate, complete, and current information when applying for or using an account. We may request information and documents from you at any time, including identity documents, proof of address, bank statements, source-of-funds documentation, business documents, ownership information, invoices, contracts, tax information, and other records.

You authorize Kobopay and its service providers to verify your information using public records, private databases, credit bureaus, identity verification providers, financial institutions, government registries, fraud prevention providers, sanctions screening providers, and other lawful sources.

We may delay, suspend, restrict, reverse, cancel, or refuse transactions or account access until verification is complete.

5. Personal accounts

Personal accounts are intended for individual consumer use and may include features such as:

Multi-currency wallets.
Local and international payments.
Remittance-related services.
Currency conversion.
Virtual cards, where available.
Credit-building services.
Rent-reporting services.
Statements, receipts, and transaction history.
Other personal financial tools offered by Kobopay.

You must not use a personal account for business activity unless we expressly permit it. We may require you to move to a business account if we determine that your activity is commercial in nature.

6. Business accounts

Business accounts are intended for approved business use and may include features such as:

Business wallets.
Local and international payments.
FX services.
Invoicing.
Corporate or virtual cards, where available.
API access.
Merchant payment tools.
Bulk payments or payouts, where available.
Account roles, permissions, and user management.
Business statements, reconciliation tools, and reporting.

The business is responsible for all activity under its account, including activity by administrators, authorized users, employees, contractors, agents, API users, and integrated systems. The business must maintain appropriate internal controls, access controls, user permissions, and approval processes.

We may set transaction limits, account limits, velocity limits, payout limits, API limits, settlement limits, or other controls for business accounts.

7. Authorized users and account security

You are responsible for maintaining the confidentiality of your login credentials, devices, API keys, passwords, one-time codes, and security credentials. You must not share credentials except where permitted through authorized user features.

You are responsible for all activity that occurs under your account unless caused by Kobopay’s gross negligence or willful misconduct, subject to applicable law. You must notify us immediately if you suspect unauthorized access, account takeover, lost credentials, compromised devices, unauthorized transactions, or security incidents.

For business accounts, administrators are responsible for granting, reviewing, and revoking user access. Kobopay is not responsible for losses caused by poor internal controls, unauthorized internal users, compromised credentials, or failure to maintain user permissions.

8. Payments, transfers, FX, and transactions

You may use the Services to initiate payments, transfers, currency conversions, remittances, deposits, withdrawals, card transactions, invoices, payouts, and other supported transactions, subject to availability, limits, verification, fees, partner requirements, and applicable law.

You are responsible for ensuring that transaction details are accurate, including recipient names, bank details, wallet details, account numbers, routing details, payment amounts, currencies, references, invoices, and beneficiary information. Transactions may be irreversible once processed.

We may refuse, delay, hold, reverse, cancel, block, or investigate any transaction where we believe it may violate law, regulation, these Terms, partner rules, sanctions rules, AML requirements, fraud controls, card network rules, payment network rules, or internal risk policies.

Exchange rates may change between the time you view a quote and the time a transaction is completed. Fees and rates will be disclosed where required before confirmation or in an applicable fee schedule.

Kobopay may use stablecoins, blockchain rails, digital asset infrastructure, liquidity providers, or blockchain analytics providers to support the movement, conversion, settlement, or reconciliation of funds. These infrastructure choices may be used in the background and may not create a direct digital asset account for you unless specifically stated.

Where a Service involves digital assets, stablecoins, blockchain transactions, or wallet addresses directly, you acknowledge that:

Blockchain transactions may be irreversible.
Network fees, settlement times, and availability may vary.
Digital asset infrastructure may be affected by network congestion, forks, protocol changes, validator issues, smart contract risk, cybersecurity incidents, sanctions screening, liquidity issues, or third-party failures.
Stablecoins may carry issuer, reserve, redemption, market, regulatory, operational, and counterparty risks.
Kobopay may restrict, delay, or refuse digital asset-related activity for compliance, risk, partner, or legal reasons.

Kobopay does not provide investment, tax, legal, accounting, or financial advice.

10. Credit-building and rent-reporting services

Kobopay may offer credit-building, rent-reporting, or related credit profile services. These Services may involve reporting account information, payment history, tradeline information, subscription status, rent payment information, or other permitted information to one or more credit bureaus or credit reporting agencies.

By enrolling in these Services, you authorize Kobopay, its affiliates, credit reporting partners, service providers, landlords, property managers, verification providers, and credit bureaus to collect, verify, use, disclose, and report information necessary to provide the Service.

Kobopay does not guarantee that use of credit-building or rent-reporting Services will improve your credit score, credit report, creditworthiness, loan eligibility, interest rate, rental application, or access to financial products. Credit outcomes depend on many factors outside Kobopay’s control.

Late payments, missed payments, returned payments, failed subscription payments, account closure, disputes, or other account activity may negatively affect your credit profile where reportable and permitted by law.

You are responsible for reviewing your credit reports and reporting inaccuracies to the relevant credit bureau and to Kobopay where applicable.

11. Fees

You agree to pay all fees, charges, spreads, subscription fees, card fees, FX fees, transfer fees, processing fees, chargeback fees, reversal fees, API fees, account fees, and other amounts applicable to your use of the Services. Fees may vary by product, jurisdiction, account type, currency, payment method, partner, corridor, transaction size, and risk profile.

We will disclose fees where required by law or in an applicable fee schedule, checkout screen, transaction confirmation, product disclosure, invoice, or account notice. We may update fees from time to time subject to applicable law.

You authorize Kobopay to deduct fees from your Kobopay balance, linked payment method, settlement amount, subscription payment, business account, or other permitted source.

12. Account balances and safeguarding

Depending on the Service, funds may be held by Kobopay, a regulated financial institution, a banking-as-a-service provider, a payment partner, a safeguarding account provider, a custodian, or another regulated partner. Kobopay may maintain records reflecting your balance and transaction history.

Unless expressly stated otherwise, Kobopay accounts are not bank deposit accounts and may not be eligible for deposit insurance. Funds may be safeguarded in accordance with applicable law and partner arrangements, but safeguarded funds are not the same as insured bank deposits.

Your rights to funds, timing of access, insolvency treatment, and applicable protections may depend on the specific Service, jurisdiction, partner, and account structure.

13. Prohibited activities

You must not use the Services for any unlawful, restricted, abusive, deceptive, or high-risk activity. Prohibited activities include, but are not limited to:

Money laundering, terrorist financing, sanctions evasion, fraud, scams, or illegal activity.
Transactions involving prohibited jurisdictions, sanctioned persons, blocked parties, or restricted entities.
False, misleading, or fraudulent information.
Identity theft, synthetic identity, account takeover, mule activity, structuring, layering, or suspicious payment patterns.
Illegal gambling, unlicensed gaming, or betting.
Illegal drugs, controlled substances, or drug paraphernalia.
Weapons, ammunition, explosives, or regulated arms.
Human trafficking, exploitation, child sexual abuse material, or sexual services prohibited by law.
Counterfeit goods, stolen goods, intellectual property infringement, or piracy.
Unlicensed financial services, money transmission, lending, securities, derivatives, investment schemes, or crypto asset services.
Ponzi schemes, pyramid schemes, get-rich-quick schemes, or deceptive investment opportunities.
Hate, violence, harassment, or extremist activity.
Circumventing Kobopay limits, controls, monitoring, or verification.
Using personal accounts for business purposes without authorization.
Misusing APIs, scraping, reverse engineering, attacking, disrupting, or compromising Kobopay systems.

We may maintain additional restricted activity lists and may update them at any time.

14. Compliance reviews and transaction monitoring

You agree that Kobopay may monitor account activity, screen transactions, request information, freeze or hold funds, restrict account access, delay transactions, refuse transactions, close accounts, file regulatory reports, and take other actions required or permitted by law, regulation, partner rules, or internal compliance policies.

We may request additional information about any transaction, including purpose of payment, source of funds, source of wealth, invoices, contracts, recipient relationship, business rationale, beneficial ownership, and supporting documents.

Failure to provide requested information may result in delayed, rejected, reversed, restricted, or terminated Services.

15. API access

If Kobopay provides API access, you must use the API only in accordance with our documentation, security requirements, rate limits, acceptable use rules, and applicable agreements. You are responsible for safeguarding API keys, credentials, tokens, webhooks, and integration endpoints.

You must not use the API to engage in unlawful activity, bypass controls, overload systems, scrape data, reverse engineer the platform, or provide unauthorized third-party access. We may suspend or revoke API access at any time for security, compliance, operational, or business reasons.

16. Beta services and pilots

Some Services may be offered as beta, pilot, early access, or limited availability features. Beta Services may be incomplete, unstable, changed, suspended, or discontinued at any time. Beta Services may be subject to additional terms, limits, disclosures, and feedback requirements.

17. Third-party services and partners

The Services may rely on third-party services, including banking, payment, card, credit bureau, identity verification, compliance, blockchain, analytics, cloud, and communication providers. We are not responsible for third-party services except to the extent required by applicable law.

Your use of third-party services may be subject to separate terms and privacy policies. Third-party service outages, delays, errors, compliance reviews, or restrictions may affect the Services.

18. Intellectual property

Kobopay owns or licenses all rights, title, and interest in the Services, including software, trademarks, logos, designs, text, graphics, interfaces, documentation, APIs, databases, models, and content. You may not copy, modify, distribute, sell, lease, sublicense, reverse engineer, or create derivative works from the Services except as expressly permitted by us.

Subject to these Terms, Kobopay grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license to access and use the Services for your personal or approved business purposes.

19. User content and feedback

If you submit content, documents, data, feedback, suggestions, or other materials to Kobopay, you grant us the right to use them as necessary to provide, improve, secure, and administer the Services, comply with law, and enforce these Terms. You represent that you have the rights and authority necessary to provide such materials.

If you provide feedback or suggestions, we may use them without restriction or compensation.

20. Suspension, restriction, and termination

We may suspend, restrict, freeze, close, or terminate your account or access to the Services at any time where permitted by law, including if:

You violate these Terms.
You provide false or incomplete information.
You fail verification or compliance checks.
We suspect fraud, financial crime, sanctions risk, unauthorized activity, or illegal activity.
Required by law, regulation, court order, regulator, law enforcement, partner, payment network, card network, or financial institution.
Your activity exceeds our risk tolerance.
Your account is inactive.
We discontinue a Service or exit a jurisdiction.

Upon closure, we may return eligible funds to you after deducting fees, chargebacks, reversals, negative balances, and other amounts owed, and subject to legal, regulatory, compliance, partner, and risk restrictions.

21. Disclaimers

The Services are provided on an “as is” and “as available” basis, subject to applicable law. Kobopay does not guarantee that the Services will be uninterrupted, error-free, secure, available in all jurisdictions, or suitable for your needs.

Kobopay does not guarantee payment completion times, exchange rates, partner availability, credit score improvement, account approval, transaction approval, card approval, or access to any specific financial product.

22. Limitation of liability

To the maximum extent permitted by law, Kobopay and its affiliates, officers, directors, employees, contractors, agents, service providers, and partners will not be liable for indirect, incidental, special, consequential, exemplary, punitive, or lost-profit damages arising from or related to the Services.

To the maximum extent permitted by law, Kobopay’s aggregate liability for claims arising from or related to the Services will be limited to the greater of: (a) the fees you paid to Kobopay for the specific Service giving rise to the claim in the three months before the event; or (b) CAD $100.

Nothing in these Terms limits liability that cannot be limited under applicable law.

23. Indemnity

You agree to indemnify and hold harmless Kobopay and its affiliates, officers, directors, employees, contractors, agents, service providers, and partners from any claims, losses, damages, liabilities, penalties, costs, and expenses arising from or related to your breach of these Terms, misuse of the Services, violation of law, infringement of rights, business account activity, authorized users, API integrations, or information you provide.

24. Dispute resolution

Before bringing a formal claim, you agree to contact us at support@kobopay.co and attempt to resolve the dispute informally. We will attempt to respond within a reasonable time.

These Terms are governed by the laws of Canada, without regard to conflict of laws principles. Subject to applicable consumer protection laws, the courts located in ON, Canada will have exclusive jurisdiction over disputes arising from these Terms or the Services.

25. Changes to the Services and Terms

We may change, suspend, discontinue, or limit any part of the Services at any time. We may update these Terms from time to time. We will provide notice where required by law. Your continued use of the Services after changes take effect means you accept the updated Terms.

26. General terms

These Terms, together with applicable product terms, disclosures, fee schedules, privacy notices, consents, and partner terms, form the agreement between you and Kobopay. If any provision is unenforceable, the remaining provisions remain in effect. You may not assign your rights or obligations without our consent. We may assign these Terms as part of a corporate transaction, restructuring, or business transfer. Our failure to enforce a provision is not a waiver.

27. Contact

Kobopay Inc.Email: hello@kobopay.coAddress: 8 Nelson St. W, Brampton, ON L6X 1B7, Canada